PHOTO: Brisbane burger chain, Getta Burger. MUST DO BRISBANE
The well-known Brisbane burger chain, Getta Burger, has succumbed to liquidation, shuttering 14 of its stores and accumulating debts exceeding $500,000. The demise of the chain is attributed to the rising cost of living and inflation.
Ian Currie, the liquidator from BRI Ferrier, disclosed, “I’ve been appointed to seven companies within the group, which had 11 operational stores until yesterday morning. All stores have now ceased operations, leading to the termination of staff.” Additionally, he mentioned that four stores had already closed before the liquidation process commenced on November 23, resulting in 107 staff members, mainly casual employees, losing their jobs.
Group chief executive officer of Getta Burger, Brent Poulter. Picture: Facebook
The 14 closed Getta Burger outlets are scattered across Brisbane suburbs such as Ashgrove, Underwood, Capalaba, Clayfield, Cannon Hill, Victoria Point, West End, Bridgeman Downs, and Carina. Five additional stores located in the outer Brisbane metropolitan area in North Lakes, Springfield Lakes, Holmview, Yamanto, and Yatala have also closed.
Currie stated that wages were paid up until November 19, with staff being owed wages from the past few days, along with potential annual leave and redundancy payments. Superannuation for the previous quarter was found to be unpaid, but other financial aspects appeared to be in order.
The company has closed 14 stores in Brisbane.
The liquidator is still evaluating the financial status of the seven companies within the group, noting that payments to suppliers seem to be relatively current. However, the chain faces a substantial payroll tax debt of around $500,000 to the Queensland Revenue Office, with the possibility of additional tax liabilities. Lease obligations to landlords for the 14 closed locations constitute another significant financial liability.
Currie attributed the chain’s failure to escalating food costs and declining sales, particularly in areas characterized by young families, where the stores are situated. Getta Burger’s social media accounts reflected recent activity, with concerned fans inquiring about the sudden closures and expressing uncertainty about the chain’s fate.
The chain has folded due to cost of living and inflation pressures.
Founded in 2014 by Brent and Amy Poulter, Getta Burger had been actively trading until its recent closure. The Poulters, who also own several other hospitality businesses, started their entrepreneurial journey with a food truck before establishing the Getta Burger chain. Earlier this year, their smokehouse butcher shop, Low n Slow Meat Co in Brisbane’s Morningside, closed down after encountering issues with the local council. As of now, the Poulters have not provided comments on the situation.
SOURCE: NEWS.COM.AU